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Provide calculations (if its possible) QUESTION 10 Entity G uses the allowance method for uncollectible accounts. Accounts receivable has a normal balance of $400,000. After
Provide calculations (if its possible)
QUESTION 10 Entity G uses the allowance method for uncollectible accounts. Accounts receivable has a normal balance of $400,000. After adjustment Allowance for Doubtful Accounts has a normal balance of $20,000. What is the net realizable (cash) value of accounts receivable after adjustment? O $420,000 O $440,000 O $20,000 $380,000 QUESTION 11 Entity H has total assets of $800,000 and total liabilities of $500.000. If Entity H borrows $150.000 on a long-term bank loan, what will its new debt/total assets ratio be (round if necessary)? 071% O 81% 53% O 68% QUESTION 12 Entity J uses US GAAP and the direct method for operating activities in its statement of cash flows. For the following item, indicate on which financial statement, it would appear: Cash used to purchase the debt or equity securities of other entities. O Multi-step income statement O Classified balance sheet O Retained earnings statement O Statement of cash flows O Not on any financial statement QUESTION 13 Which of the following is an example of a financing activity? O Selling merchandise to customers on account. O Purchasing supplies to be consumed this period. Issuing shares of common stock for cash. O Purchasing an office building. QUESTION 14 In the annual report, what type of independent auditors' report would give investors and creditors the most confidence that the company's financial statements are fairly presented and in accordance with United States generally accepted accounting principles? O Adverse opinion O Qualified opinion O Disclaimer of opinion. O Unqualified opinionStep by Step Solution
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